Northland analyst Tim Savageaux raised the firm’s price target on Poet Technologies (POET) to $7 from $6 and keeps an Outperform rating on the shares following the company’s announcement early last week of plans for expanded optical engine capacity via contract manufacturing partners in Malaysia. Poet also announced plans to buy in the 25% of the SPX joint venture that it doesn’t own, with both moves addressing concerns the firm had previously noted around non-China supply chains, the analyst tells investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on POET:
- Largest borrow rate increases among liquid names
- POET Technologies Announces $25M Direct Offering
- POET Technologies Expands to Boost AI Production
- Poet Technologies announces $25M registered direct offering
- POET Technologies Expands to Boost AI Infrastructure
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
